002 Piggish_Play - Annihilate Roku with 50+ Puts @104 (5/29)

25 May 2020

ROKU

The last time ROKU got downgraded this badly on a random Friday, it sold off harder than any stock, ETF or Municipal Bond, perhaps ever. Even UVXY (circa late March 2020) was nothing, comparatively.

Coincidentally, the downgrade came just before a really nasty article was published regarding potential fraud mix-up.

The company hasn't posted profits in 10+ years and never will.

Oh yeah, forgot I'm a technical trader. The chart looks bearish.

27 May 2020

Not

Annihilation Phase 1 complete. Phase 2 = 98 breaks + holds. Phase 3 = No idea, but very excited to find out.

29 May 2020

İşlem aktif

Will not lie, I did take half my position at 102 for a triple up. My bad forgetting to update the idea. Nevertheless, the victory has been karma'd and I'm about breakeven on total position.

With so much annoyingly positive news surrounding this godforsaken profitless nightmare of a business model, it will admittedly take some time for annihilation.

NEVERTHELESS, today might just close below the weekly low, so I may go and reposition for next week, exiting my puts for this at peak low (10 am?, tough to know tbh). On the off chance we annihilate it today, it will require a very sharp open downward and immediate test of 102. Bar that, I might just keep an eye on it, close out current position, same size next week and call it a day.

Fridays are For The Fooliish Faders This Week, Dont Long Anything Today

-Pig

29 May 2020

İşlem elle kapatılmış

Tie if you held, win if you sold all at 100, lose if you went for total annihilation.